Market Analysis: 28 July 2018

Disclaimer: The views and claims expressed here are not meant as an alternative form of investment advice. Every investment move involves risk, and you should consult professional financial advisors for guidance or conduct your own research before making a decision.

According to TokenInsight analysis, Bitcoin popularity decreased significantly to 0.016% from yesterday’s figure of 0.31%. The number of Bitcoin exchanged in the past 24 hours stayed below 7-day average, though it has increased from yesterday’s figure of 225,000 to 237,000 today.

BCtrend analyst states that the dramatic fluctuation of Bitcoin popularity can be attributed to the influence of the market makers. However, the current market still lacks access to inflow capital so the downward trend of market popularity is likely to continue in a short period of time.

Independent analyst Tommy believes that BTC rebounded significantly from the $7,900 mark yesterday and it is expected to climb above $8,500 again.